After months of authorized drama, Elon Musk has begun his takeover of Twitter, in response to The Wall Road Journal and The Washington Put up. His first transfer was to fireside CEO Parag Agrawal and Chief Monetary Officer Ned Segal and different high execs.
Musk is taking the reins simply forward of a Friday deadline to finish the deal. The deal’s closing will convey to an finish the months-long authorized battle that has engulfed Twitter since Musk first supplied to purchase the corporate in April, earlier than saying a pair weeks later that the acquisition was “on maintain.” Musk, who declined to do due diligence earlier than his supply, cited considerations concerning the variety of bots and faux accounts on the platform. Twitter’s attorneys later argued that the bot difficulty was merely a “pretext” for him to renege on the deal.
However finalizing the acquisition can be removed from the tip of turmoil inside Twitter. Musk, who modified his Twitter bio to “Chief Twit,” has made it clear he intends to convey massive modifications to the social media firm. He has stated each in public appearances and in personal messages that he needs to chill out Twitter’s moderation guidelines and that he dislikes everlasting bans. He’s additionally prone to lower employees, although he has advised workers he received’t lower 75 p.c of workers as he was reportedly contemplating.
Twitter’s core service may additionally dramatically change beneath Musk’s management. Along with loosening moderation guidelines on the platform, Musk has stated needs to “open supply” Twitter’s algorithm so customers may higher perceive its suggestions. On the identical time, he’s tried to reassure advertisers that he doesn’t need the location to be a “free-for-all hellscape,” and that Twitter needs to be the “most revered promoting platform on the planet.”
Musk, who has typically talked about his need for Twitter to be “an accelerant to creating X, the every part app” akin to WeChat in China, can also be prone to search for methods to extend non-advertising income. He’s proposed modifications to Twitter Blue, and floated the concept of charging firms for tweet embeds.
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